N.M. Stat. § 73-13-41
That upon order of the court in which any such receivership is pending, the receiver of any irrigation district may execute, on behalf of such district, any contract, conveyance, bond, debenture or other instrument which the board of directors of such district might or could have executed in its behalf in the absence of such receivership and may take any other action in connection with the affairs of such district which such board of directors might or could take in the absence of such receivership, and that any and all such action so taken or instruments so executed by such receiver shall, in all respects, have the same force and effect and be binding upon such district in the same manner and to the same extent as if such action had been taken or said instruments had been executed by or under the authority of the board of directors or other appropriate officer or officers of such district in the absence of such receivership.
NMS § 73-13-41